SK Global Chemical reports rise in quarterly profits

8:59 AM MDT | April 29, 2013 | Deepti Ramesh

SK Global Chemical, the petrochemical business of SK Innovation (Seoul), formerly SK Energy, recorded a 28.5% rise in operating profits for the first quarter of 2013 compared with the year-ago period, to 246.1 billion South Korean won ($222 million). First-quarter sales decreased 4.5%, however, to won3.28 trillion. The increase in operating profits was mainly due to favorable market conditions, which resulted in higher margins, the company says. SK Global Chemical’s overall petrochemical product sales volumes decreased to 2.04 million m.t. in the first...